The Defense Credit Union Council (DCUC) is urging NCUA to modernize regulatory requirements in two key areas, credit union data collection and credit union-to-bank mergers, while preserving safeguards designed to protect members and ensure transparency.
In separate comment letters submitted to the NCUA, DCUC called for a comprehensive review of the agency's reporting requirements and supported efforts to streamline merger regulations that no longer reflect how members receive information.
Regarding the NCUA's request for information on data collection, DCUC said the agency should eliminate duplicative reporting, improve Call Report instructions, and evaluate whether all data points collected through Call Reports, corporate Call Reports, and Profile forms continue to serve a meaningful supervisory purpose. The group also encouraged the NCUA to rely more heavily on automation and pre-populated fields and to consider annual or event-driven reporting in place of some recurring submissions.
"Credit unions share the NCUA's commitment to accurate and meaningful reporting, but data collection should always serve a clear supervisory purpose and not create unnecessary administrative burdens," DCUC Chief Advocacy Officer Jason Stverak said.
At the same time, DCUC weighed in on a proposed NCUA rule governing mergers of federally insured credit unions into banks. While supporting the elimination of newspaper publication requirements and certain formatting mandates, the organization urged the agency to retain disclosure standards that help members understand transactions that fundamentally change ownership rights.
Specifically, DCUC opposed removing the definition of "clear and conspicuous" from merger disclosures and recommended preserving requirements that explain how boards identified and negotiated with merger partners. The group argued those provisions help members and regulators evaluate whether a proposed transaction is in members' best interests.
DCUC said it supports reducing outdated regulatory burdens but believes modernization efforts should be paired with strong transparency and accountability measures.
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